Costello Family Foundation

Private foundation · Grantmaker Lisle, IL EIN: 26-3258672

Costello Family Foundation is a private foundation, based in Lisle, IL. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $2.1M in total assets. In 2024, it awarded 9 grants totaling $334K. Net investment income was $26K.

Key facts about Costello Family Foundation

In short: Costello Family Foundation gave $334K across 9 grants in 2024 (avg $37K), mostly in North Carolina. Source: 2024 IRS Form 990-PF.

EIN
26-3258672
Latest 990 filing
Form 990-PF, 2024
Annual giving (2024)
$333,925
Grants made (2024)
9
Average grant
$37,103
Median grant
$4,000
Total assets
$2,129,869
Primary geography
North Carolina (78% of itemized 2024 grant dollars)

Data from IRS Form 990-PF, 2024; updated September 2026.

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$2.1M

-7.7% YoY

Annual Giving

$334K

-29.0% YoY

Grant Count

9

+28.6% YoY

Avg Grant Size

$37K

-44.8% YoY

Under IRS private-foundation payout rules, Costello Family Foundation reported a distributable amount of $55K for 2024 — the minimum it must pay out in qualifying distributions.

How Costello Family Foundation gives

  • Giving grew 320% from 2021 to 2024. Method
  • In 2024 it paid out 608% of its IRS minimum distribution (the 5% rule). Method

From the foundation's IRS Form 990-PF filings. Methodology.

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

8states

Share of 2024 grant dollars across all 9 itemized grants.

Cities

ChicagoAshevilleBonita SpringsFort LauderdaleKansas CityOcalaMemphisColorado SpringsSan AntonioTampaDunnMckinneyNevada CityPeoriaWest Covina

Giving Over Time

Total grant dollars and number of grants per year

$0$200K$400K$600K9 grants2020 9 grants2021 8 grants2022 7 grants2023 9 grants2024

From 2020 to 2024, annual grant giving ranged from $33K (2020) to $470K (2023). In 2024 it made 9 grants totaling $334K.

Grant Insights

How this funder distributes its grants

Top Recipients

Top 9 recipients in 2024

Abccm Costello House: $250KAbccm Costello House$250KCross Pointe Ocala: $63KCross Pointe Ocala$63KFCA: $5KFCA$5KEpiscopal Farmworker Ministry: $5KEpiscopal Farmworker Ministry$5KMancave Ministry: $4KMancave Ministry$4KBreakthrough Urban Ministries: $3KBreakthrough Urban Ministries$3KTurning Point Ministries: $2KTurning Point Ministries$2KI-Bible: $1KI-Bible$1KLamb Lion Ministries: $325Lamb Lion Ministries$325

The largest 2024 recipient was Abccm Costello House ($250K). Together the top 9 received $334K.

Grant Size Distribution

42 grants across all recorded years

37<$50K2$50–100K$100–250K3$250–500K$500K–1M$1–5M$5M+

The most common grant size was under $50K: 37 grants of 42 (88%).

Giving History

Grant recipients and amounts by year

RecipientPurposeAmount
Abccm Costello House Asheville, NCDonation$250,000
Cross Pointe Ocala Ocala, FLDonation$63,000
FCA Kansas City, MODonation$5,000
Episcopal Farmworker Ministry Dunn, NCDonation$5,000
Mancave Ministry Asheville, NCDonation$4,000
Breakthrough Urban Ministries Chicago, ILDonation$3,000
Turning Point Ministries Bonita Springs, FLDonation$2,400
I-Bible West Covina, CADonation$1,200
Lamb Lion Ministries McKinney, TXDonation$325

Financial History

Multi-year comparison from IRS filings

Revenue
Expenses
Qualifying Distributions
Net Investment Income
$0$500K$1M$1.5M$2M2020 2021 2022 2023 2024
Metric202420232022
Total Assets$2,129,869$2,308,357$2,332,174
Revenue$96,186$427,414$330,699
Expenses$367,479$499,071$355,778
Qualifying Distributions$333,925$467,549$312,600
Net Investment Income$25,807$19,591$21,332
Distributable Amount$54,945$50,465$59,050

Data update history

When this profile's IRS filing data changed on Grantable

  1. IRS filings on file for fiscal years 2020–2024

Leadership & Key People

Officers and directors from IRS filings

Costello Family Foundation is led by Michael J. Costello II, President on every filing since 2020; none of the 3 officers listed in 2024 report compensation.

Officers on the 2024 filing

  • Michael J. Costello II

    President

    On filings since 2020

    No compensation reported

  • Dominic V. Costello

    Vice President

    On filings since 2020

    No compensation reported

  • Lisa M. Costello

    Sec-Treas

    Secretary & Treasurer → Sec-Treas, 2023

    On filings since 2020

    No compensation reported

Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.

Frequently asked questions about Costello Family Foundation

How much does Costello Family Foundation give each year?

Costello Family Foundation gave $334K across 9 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $470K across 7 grants.

What is Costello Family Foundation's typical grant size?

Costello Family Foundation's median grant in 2024 was $4,000, and its average grant was $37,103, across 9 grants on its 2024 IRS Form 990-PF.

Where does Costello Family Foundation give grants?

Costello Family Foundation gives mostly in North Carolina: 78% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The next largest state was Florida (20%). The most frequent recipient cities were Asheville, NC (2 grants).

Does Costello Family Foundation give general operating support?

Not in 2024: none of the 9 grants with a stated purpose on Costello Family Foundation's 2024 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Donation" (9 grants).

Who are Costello Family Foundation's largest grantees?

Costello Family Foundation's largest 2024 grantees include Abccm Costello House ($250,000), Cross Pointe Ocala ($63,000) and FCA ($5,000), according to its 2024 IRS Form 990-PF. Together they received 95% of its itemized 2024 grant dollars.

How large is Costello Family Foundation?

Costello Family Foundation reported $2.1M in total assets on its 2024 IRS Form 990-PF. It paid out $334K in qualifying distributions that year, against a required minimum of $55K (roughly 5% of its investment assets).

What is Costello Family Foundation's EIN?

Costello Family Foundation's EIN (Employer Identification Number) is 26-3258672. IRS Form 990 filing data is available on this page for 2020–2024.

Data last updated September 2026. Sourced from IRS Form 990-PF filings.

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